 "Jet Airways")
The National Company Law Appellate Tribunal’s (NCLAT) decision to allow a Dutch court administrator to participate in the Jet Airways’ committee of creditors (CoC)’s meetings is a welcome signal to foreign investors on the ease of doing business in India.
The NCLAT’s decision is based on a ‘Cross Border Insolvency Protocol’ agreed upon by the Dutch insolvency court administrator and the Indian Resolution Professional of debt-laden Jet Airways. While all the points had been mutually agreed, the issue of whether the Dutch court administrator could participate in CoC meetings remained the bone of contention.
A three-judge Bench headed by NCLAT Chairperson Justice
